Mar 25, 2025 03:44 PM IST The Choose Committee has been mandated to submit its report on the invoice by the primary day of the following session of Parliament. The brand new Revenue Tax Invoice will likely be taken up for dialogue within the monsoon session of Parliament, Finance Minister Nirmala Sitharaman mentioned on Tuesday….
The calculation of tax rebates continues to be unclear on the subject of earnings from capital positive aspects. This situation arises following finance minister Nirmala Sitharaman’s determination to extend the tax-rebate threshold beneath Part 87A of the Earnings Tax Act from ₹7 lakh to ₹12 lakh within the Union Finances 2025-26. Nirmala Sitharaman with Union…
PTI cites AMRG & Associates senior accomplice Rajat Mohan as saying, “A key departure from the Revenue-Tax Act, 1961, is that beforehand, the earnings tax division needed to strategy Parliament for numerous procedural issues, tax schemes and compliance frameworks. Now, CBDT has been empowered to introduce such schemes independently, considerably decreasing bureaucratic delays and making…
KPMG in India did a survey in January 2025 to assemble trade views on the Earnings Tax Act assessment. (AI picture) New Earnings Tax Invoice: The federal government introduced in July 2024 its intention to conduct an intensive assessment of the Earnings-tax Act, 1961. The first goal is to rework the Earnings Tax Act 1961…
Finance Minister Nirmala Sitharaman on Saturday mentioned she is more likely to introduce the brand new earnings tax invoice, which can exchange the six-decade-old I-T Act, within the Lok Sabha within the coming week. The Union Cupboard, chaired by Prime Minister Narendra Modi, authorized the invoice on Friday.(Sanchit Khanna/ Hindustan Occasions) After introduction within the…
The federal government, within the ensuing Funds session of Parliament, is prone to introduce a brand new earnings tax invoice which seeks to simplify the present I-T legislation, make it understandable and scale back the variety of pages by about 60 per cent. The administration is anticipated to current a brand new earnings tax invoice…
